Withholding tax in the medium term: Preparing for EU FASTER and beyond
Abstract
This paper examines the current state of withholding tax recovery, reviews historical efforts to streamline inefficiencies, and evaluates the opportunities and challenges presented by the upcoming implementation of European Union Faster and Safer Tax Relief of Excess Withholding Taxes (EU FASTER) in 2030. The paper explores how thoughtfully crafted technology architecture will enable custodians and asset servicers to thrive within the digitised, relief-focused and reporting-intensive framework that EU FASTER envisions. By embracing collaborative digital ecosystems and strategic partnerships, providers may better meet emerging demands for transparency, automation and regulatory alignment as these policy changes unfold. This article is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Len A. Lipton GlobeTax Managing Director, oversees the company’s global sales activities. Managing the Sales and Partnerships teams globally, Len supports the expansion of new business development channels and leads negotiations with asset managers, hedge funds and financial institution clients. He also participates in the company’s product development efforts to support evolving client needs in the rapidly changing marketplace. A frequent speaker at industry seminars and withholding tax educational forums, Len has additionally served as a Director to the XBRL-US board (2008–20), as a member of the MFA Tax Committee and as GlobeTax’s member representative to International Securities Association for Institutional Trade Communication (ISITC), Manager Funds Association (MFA), Securities Industry and Financial Markets Association (SIFMA) and Alternative Investment Management Association (AIMA).
David Bolner is an Executive Director with S&P Global Market Intelligence Tax Solutions group. David has over 25 years’ experience in tax and tax technology, as well as an extensive background in information reporting, documentation, withholding and reporting. Before joining S&P Global, David was responsible for providing clients and internal teams with information regarding regulatory changes and issues that affect tax reporting at another large tax technology solution provider. Prior to that, David spent 16 years in public accounting where he advised clients in the areas of tax information reporting and tax operations and was also involved in developing and launching tax information reporting technology solutions. Additionally, he has served as an Executive Director in the corporate tax department of a large financial institution and led tax and regulatory technology offerings at another solution provider. David received his JD from the University of Pittsburgh and earned his Bachelor’s from the University of Maryland.
